INFOGRAPHIC: LatAm's Top Weekly Startup Funding — Week 35
These are the funding deals we tracked in the LatAm region this week including Botanical Solution, Magie, Ábaco, Ainwater and EmiteAí
- Chilean biotech company, Botanical Solution Inc. secures $7.6M in Series A extension round
- Brazilian fintech, Magie, raises $5.1m seed round led by Lux Capital
- Salvadoran fintech, Ábaco, raises $4M pre-seed round
- Chilean tech for wastewater startup, Ainwater raises $537K pre-seed round
- EmiteAí, a Brazilian end-to-end logistics management SaaS, raised $520k in a funding round led by Bossa Invest.
Botanical Solution Inc. Secures $7.6 Million to Expand Production
Chilean biotech company, Botanical Solution Inc. (BSI) has secured $7.6 million in a Series A extension round, raising its total funding to $23.3 million.
BSI, co-founded by Gastón Salinas and Dr. Gustavo Zúñiga, produces advanced botanical materials that provide solutions for plant and human health.
The company began operations in Santiago, Chile in 2013. At its start, BSI launched a botanical-based bio fungicide from Quillaja Saponaria plant tissue grown in a lab, initially named BotriStop. The product was later renamed Quillibrium and was granted registration in Chile in 2016.
Following this, the company began to amass funds from multiple investors like Sembrador Capital and El Coigue, and Quillibrium gained gradual adoption across the country.
In 2021, with Series A financing led by Otter Capital, BSI created a new pharmaceutical business unit. This unit was tasked with the development of a sustainable QS-21, a potent vaccine adjuvant, made from natural resources, free from deforestation or conventional plantations.
The recent $7.6 million funding will be used to expand and accelerate the production of QS-21. BSI also plans to invest in research and development by improving its laboratories in California to ensure a consistent supply of QS-21.
QS-21 is a critical component in several vaccines, enhancing immune response and potentially improving vaccine efficacy. BSI's focus on sustainable production of this adjuvant could have significant implications for the pharmaceutical industry and global health initiatives.
